The Executive Committee of the National Economic Council (Ecnec) has approved the long-awaited Bay Terminal Marine Infrastructure Development Project (BTMIDP), involving an estimated cost of Tk 13,525.57 crore. This landmark decision is set to significantly expand the capacity of Chattogram Port and strengthen Bangladesh’s role in international trade, reports UNB.
The approval was granted during a meeting held at the NEC Conference Room, chaired by Ecnec Chairperson and Chief Adviser Professor Muhammad Yunus. A total of 16 projects were approved in the session, amounting to a combined estimated cost of Tk 24,247.24 crore. Of the total funding, Tk 3,001.34 crore will be provided by the Government of Bangladesh, Tk 16,719.73 crore will come as project loans, and Tk 4,526.17 crore will be drawn from the own funds of implementing agencies. Thirteen of the approved projects are new, while three are revised.
Planning Adviser Professor Dr Wahiduddin Mahmud briefed the media after the meeting, noting that the Bay Terminal project, under discussion for several years, has finally received the green light and work will begin soon. He emphasized the importance of upgrading Chattogram Port to accommodate growing trade volumes over the next two decades.
Located in the Anandanagar/Sandwip channel west of the existing port, the Bay Terminal will benefit from strategic connectivity to road and rail links to Dhaka. The terminal is expected to handle 36 percent of Bangladesh’s container traffic and will be capable of accommodating larger vessels, such as Panamax-class ships. It is designed to drastically reduce vessel turnaround time, a current limitation due to the port’s inability to handle large ships and its restricted operating hours.
The infrastructure project will include construction of a six-kilometre climate-resilient breakwater to protect the harbor from extreme weather, as well as dredging of the port basin, access channels, and entrances. The terminal will be developed under a public-private partnership, with Terminal-1 being constructed by Enterprise of Singapore and Terminal-2 by DP World of the UAE.
Out of the total cost, the World Bank will provide Tk 9,333 crore in loan support. This investment will help enhance port efficiency, reduce import and export costs, and attract private sector participation. The World Bank’s Board of Executive Directors approved $650 million for the project on June 28, 2024. Additionally, the International Finance Corporation (IFC), the private sector arm of the World Bank Group, is considering investment in one of the terminals.
More than one million people, including a significant number of women, are expected to benefit directly from improved access to sustainable transport services. Stakeholders include shipping companies, importers, exporters, freight forwarders, and various business communities.
In FY 2023–24, the World Bank committed a record $3.4 billion to Bangladesh, including funding for the Bay Terminal initiative.
Among other notable projects approved during the Ecnec meeting were the second revised Multi-sector Project to address the Rohingya crisis with an added cost of Tk 394.19 crore, the B-STRONG emergency preparedness project at Tk 1,909 crore, the first revised Chattogram Metropolitan Sewerage Project with an additional Tk 0.01 crore, and the Chattogram Water Supply Development Project at Tk 3,921.42 crore.
Additional approvals included air pollution monitoring equipment improvement at Tk 103.35 crore, agricultural restoration components under B-STRONG at Tk 260.22 crore, water management at Tk 599.72 crore, green railway planning at Tk 93.51 crore, and the drilling of two deep exploratory wells at Titas and Bakhrabad fields at Tk 798 crore.
This drilling project is the first of its kind to be approved through the Planning Commission’s PPS software during the current interim government’s tenure. The meeting also granted time extensions for two ongoing projects and confirmed final approval for five previously cleared initiatives.
Bd-pratidin English/ Jisan
